All Forum Posts by: Anthony Parr

I reached out and found that much of the funding in our area has dried up recently and is being replaced with tax incentives.  Anything seems better than nothing and we really do not mind paperwork.  We are both retired teachers, so...  ;-)

Thanks for sharing your experience. It helps.

Thanks for the advice.  It seems as though "networking" is an essential ingredient to success in this arena.  I appreciate the reply.  Take care. 

We are doing rehab, and I wonder if the counselman could be an asset or liability.  Does anyone have any experience working with their councilman?  This is new territory to me, so I am unsure where I stand with them.  Also, I was not sure what category to put this question into since the project is a rehab, so I went with that.  

Thanks so much.

We are rehabbing a 100-year-old house, are restoration grants (tax incentives) worth the effort?  I do not need them, but I like the idea, especially if I can designate the property as a "historic site" upon completion in regard to resale value.

Thank you all for the feedback.  Nothing specific as of now, but I definitely see the need for a "living document" that keeps me structured.  As you stated above, it is going to be something that is unique to the scenario.  Thank you all again.  I appreciate the amazing support on these forums.

Good point.  I guess it is something that is unique to everyone and I do not have anything specific in mind.  In the past, I have employed comparable strategies with intake processes and I guess I was looking to see if anyone here had a process that worked for them.  I am picturing a "new landlord" checklist basically.  I plan on developing a process as our portfolio grows to keep everything as efficient as possible while hopefully maintaining smooth transitions while we cover ourselves.  Talking through these things helps tremendously, I appreciate your response and it makes me realize creating this process will be a process in and of itself. :-)

We are building a portfolio of rentals and I am looking for a strategic methodology that can be applied to all new rentals that covers everything that is addressed prior to tenancy. Do any of you have a system that works for you?

Thank you for your time.

I am leaving my W2 this summer. The lender that our team has been using stated that he would need two years of evidence of income to issue conventional loans. Without a lending partner, we would not have the income from investment properties to show as evidence for those two years. I am transitioning into real estate and getting my real estate license over the next couple months. Eventually, that will generate something, but to me, this is nebulous.

Should I request pre-approval on large loans that we could utilize to purchase properties or should I look at this from a different angle?

We have assets and equity at this time to qualify for whatever conventional loans we would need.

Thanks

Thanks for the warm welcome!

@Stephen Keighery, I appreciate the information.  We will definitely check that meeting out.  

I have been listening to the shows for a few years, reading the BP books, and learning a lot from the forums.  My wife and I are starting out in real estate investing now that I am a retired special education teacher, I did my twenty years and am ready to let someone else enjoy the class.  My wife is interested in restorations and flips, I am intrigued by long & short term rentals of both multi-family, single family, and commercial properties. We are closing on our first rental deal this summer.  We live north of New Orleans in a somewhat rural/suburban area and are excited about meeting amazing people in the industry and helping others find housing.  Thank you all for the information, and support, that you offer here, we are grateful for you all!